The Latin American Insurance Market

The new edition of this report examines how the global insurance business performed in 2024, in a global context of moderate growth, high levels of geopolitical uncertainty, and monetary normalization. Against this backdrop, the insurance sector in Latin America has shown itself to be resilient and adaptable and has consolidated its role as an essential component of financial and social stability. Despite fiscal constraints, inflationary pressures, and exchange rate volatility, the sector maintained a positive real growth trajectory, sustaining technical and financial profitability. The Life segment stands out for its dynamism, driven by demand for savings and pension products, while the Non-Life segment’s stability was supported by a recovery in production and tariff adjustments. The report also highlights the structural advances made by the industry in the region, which look set to further boost the maturity, penetration, and sustainability of the Latin American insurance market.